Porsche boosts e-bike commitment and takes stakes in Fazua & Ponooc
Porsche is expanding its involvement in what the company sees as the “fast-growing market” for e-bikes. The German sports car manufacturer has announced that it has acquired a stake in Fazua, a manufacturer of lightweight e-bike drive systems, and has established a strategic partnership with Ponooc Investment.
More precisely, Porsche takes 20% in Fazua GmbH. There is also an option to acquire additional shares, which would allow Porsche to take over Fazua in full. The company was founded in 2013 near Munich with the sole purpose of developing a lightweight e-bike drive. Today, Fazua employs over 100 people and says more than 40 brands rely on their technologies, including Bianchi, Cube, Pinarello and Focus.
Their e-bike system integrates the motor inside the bottom bracket. The battery is hidden inside the frame, which makes it slightly larger. In total, the disc weighs no more than 1.5 kilos, including the battery for a range of 50 km.
Ponooc, a Dutch investment company specializing in sustainable energy and mobility solutions, Porsche plans to set up two joint ventures. One will develop, manufacture and distribute a future generation of high-quality Porsche e-bikes. The second company will focus on technology solutions for the micromobility market.
Ponooc is part of Pon Holdings BV, a trading and service company with approximately 16,000 employees worldwide and a particularly strong player in the bicycle industry, coming from the automotive industry. Their portfolio includes Gazelle, Cervélo, Urban Arrow, Focus, Santa Cruz, Kalkhoff, Cannondale, Schwinn and CALOI. Pon says these bike brands have shipped 710,000 bikes worldwide, more than 60% of which were electric.
Regarding the new investments, the sports car manufacturer sees them as “part of a clear strategy: Porsche’s expertise will be complemented by the market-specific know-how of Fazua and Ponooc, which has a large portfolio of companies in micro-mobility and mobility platforms”. .”
Indeed, this is not the first step that Porsche has taken to include pedelecs in its range either. Last November, Porsche reportedly acquired a majority stake in e-bike maker Greyp Bikes.
When announcing the news in 2021, Porsche said: “E-bikes have a fixed place in the company’s e-mobility strategy and promise additional potential.”
The company also already offers the Porsche eBike Sport and eBike Crossrange – both models are almost sold out. Porsche is also continuing its long-standing partnership with bicycle manufacturer Rotwild. Work was underway on product updates to existing Sport and Cross models last year. Porsche is also building a platform of digital services around cycling under the Cyklær brand.
Going back to today’s news, the joint ventures with Ponooc and the Fazua transaction are subject to the authorization of the competent antitrust authorities, the Stuttgart-based company also specifies.
Porsche and Fazua have further agreed not to disclose the purchase price.
Porsche has, however, allocated a total of 15 billion euros to invest in new technologies until 2025 and planned 6.5 billion euros for the development of hybrid and electric vehicles.
Nearly 40% of Porsche cars delivered in Europe in 2021 were already electrified, i.e. plug-in hybrids or fully electric models. Worldwide, the share was just under 25%, according to the company.